Why Do Tenants Want to Live in Derby?

Currently, there are 265,500 people living in Derby, and over the next 15 years, the city’s population is set to increase by more than 20%. With forecasts anticipating a population of 312,000 by 2037, it’s worth asking, why do tenants want to live in Derby? And, what exactly do tenants want in a city?

There’s a lot to consider when buying-to-let, from the property itself to its wider surroundings. More often than not, the property is an investor’s main concern, with more focus on the fixtures and fittings as opposed to the wider location.

While a property’s finer details are crucial, its surroundings are just as – if not more – important. With more tenants relocating to Derby, the East Midlands powerhouse is a prime example of this, but what is driving its expanding population?

Culture Continues to Thrive

While excellent transport links initially attract many to a city, a vibrant culture is what often convinces them to stay long-term. Derby has long been celebrated for its rich history, particularly its pivotal role in the Industrial Revolution.

This blend of heritage and modernity remains a key draw. Derby continues to evolve its cultural landscape, seamlessly integrating its historical roots with contemporary additions. From a diverse range of independent eateries and the ever-popular Derbion to the UNESCO World Heritage site at the Silk Mill: Museum of Making, the city offers a compelling mix of old and new experiences.

A typical day in Derby for a tenant might involve exploring the award-winning Museum of Making, celebrating the city’s innovative past, followed by a visit to the Derbion. This major shopping centre continues to house a wealth of popular brands, including flagship stores for many well-known names.

Beyond the high street, Derby’s independent spirit shines through. Bustler Market remains a firm favourite, offering a diverse array of street food and craft beverages, embodying the city’s inclusive and entrepreneurial spirit.

The ambitious 2030 Derby City Centre Masterplan continues to drive the city’s cultural growth, and while the full impact is still unfolding, significant progress has been made the plan’s inception. The most significant development over the last few years has been the completion of the regeneration of the Becketwell Performance Venue, promising to further enhance Derby’s cultural offerings. While Derby’s bid for the 2024 City of Culture was ultimately unsuccessful, the energy and investment generated by the bid continue to benefit the city’s cultural landscape.

Unbeatable Transport Links Remain a Key Advantage

In today’s world, where the ability to commute and explore is highly valued, Derby’s central location and exceptional transport links remain a significant draw for tenants. Its position at the heart of the East Midlands, bridging the North and South, provides unparalleled connectivity across the UK and beyond.

Derby boasts one of the country’s largest rail networks, offering swift connections to major cities. London remains just a short commute of around 90 minutes, while Birmingham is even closer at approximately 35 minutes. This accessibility contributes to Derby’s impressive rail catchment area.

Furthermore, East Midlands Airport, located just outside the city, continues to be a vital transport hub. Serving millions of passengers annually and connecting to a wide range of international destinations, the airport further elevates Derby’s profile on the global stage.

Whether tenants need to travel for work or leisure, Derby’s robust transport infrastructure provides convenience and accessibility that few other cities can match.

Strong Employment Opportunities in a Diverse Economy

For many tenants, job prospects are a primary consideration when choosing a place to live. Derby’s diverse and resilient economy continues to attract professionals from various sectors, and its employment rate exceeds the East Midlands average, with 79.8% of people aged 16 to 64 years 79.8% being employed across Derby in the year ending December 2023. This presents a significant year-on-year increase, with the year prior seeing an employment rate of 74.5%, demonstrating just how much the Derby job market is excelling.

Derby’s historical strength in manufacturing remains a cornerstone of its economy. Major players like Rolls-Royce, Alstom (formerly Bombardier Transportation), and Toyota continue to have a significant presence, providing thousands of skilled jobs. These industries not only contribute to the local economy but also attract a talented workforce to the city.

Beyond manufacturing, Derby’s digital and creative sectors have continued to flourish. With a growing number of businesses and opportunities in these fields, Derby offers a dynamic employment landscape that appeals to a wide range of professionals. This diversification of the job market makes Derby an attractive proposition for tenants seeking stability and career progression.

Derby Continues to Deliver What Tenants Want

Derby has firmly established itself as more than just a hidden gem. Its ongoing growth and development are making it an increasingly attractive place for young professionals, established businesses, and a thriving independent scene. While tenant preferences may evolve, the fundamental desires for a rich culture, excellent employment opportunities, and convenient transport links remain constant.

So, when considering why tenants choose Derby, the answer is clear. They can build careers with global companies like Rolls-Royce, enjoy vibrant weekends at places like Bustler Market, and easily connect to major cities across the UK. Derby offers a well-rounded lifestyle that continues to attract and retain tenants, making it a strong prospect for buy-to-let investors in 2025 and beyond.